Econ Comments & Analysis
Telegraph | IMF's epic plan to conjure away debt and dethrone bankers
So there is a magic wand after all. A revolutionary paper by the International Monetary Fund claims that one could eliminate the net public debt of the US at a stroke, and by implication do the same for Britain, Germany, Italy, or Japan.
Forbes | Raise Taxes And Cut Government Spending To Reduce Debt? Not Really
At some point, the U.S. government will have to deal with its exploding debt load. Typically, we hear that the solution involves “some combination of reduced spending and higher taxes.” Proponents often claim that this solution is “mathematically inevitable.”
Daily Finance | Thanks a Lot for the Disastrous Economic Legacy, Baby Boomers
As a group, boomers (partly through the politicians they elected) didn't just take full advantage of the successful economic times they lived in. They went well beyond their ample means, leaving their children and grandchildren with over $16 trillion in federal debt. Compared to just $228 billion when the first boomer was born, that's an increase of 7,018%.
Washington Times | ‘Wastebook’ unearths government excess
When Americans go to the polls we won’t just be making a decision about what kind of government we want. We will be making a decision about what kind of government we will tolerate. In recent elections politicians from both sides of the aisle promised to go through the budget line by line and make hard choices. That hasn’t happened.
Blogs
Marginal Revolution | How to improve state-level fiscal policy
Some states rely too much on income taxes for their revenue and others rely too much on sales taxes (see the paper’s map on p.26). We could have better state-level automatic stabilizers.
